2021 was the year crypto started to move more and more into the mainstream. People have found their way to cryptocurrencies in different ways. And we’re not just talking about Bitcoin and Ethereum, but also altcoins like Dogecoin and Shiba Inu, NFT and the Metaverse. It is therefore worth looking into Web 3.0 for 2022. Games and the metaverse will be recognizable in many crypto wallets.
Looking ahead to 2022, there are plenty of opportunities in the crypto world. One area of crypto that is set to thrive in the coming year is the world of Web 3.0. Web 3.0 is also often called the future of the Internet. Web 3.0, along with Metaverse and gaming tokens, DeFi and interoperability solutions will find their way into many wallets this year.
The Metaverse is a kind of parallel digital universe where users can create their digital avatar and work, travel, study, play and party! In many science fiction films, the metaverse is presented as a kind of virtual and global reality. Users, represented as avatars, live in a virtual world. The metaverse is therefore not a game, it is not about winning or losing. Rather, it represents a real alternative to the physical world, a digital reality in its own right. Call it encompassing, a virtual reality that can extend to all aspects of our physical reality.
Why Invest in Gaming Tokens?
The gaming industry is experiencing phenomenal growth after its success during the pandemic shutdowns. In 2020, the UK spent £1.6 billion ($2.1 billion) more on video games than the previous year. Traditional games are centralized, which means that any items and points earned while playing cannot be used in other games. Crypto gambling changed that with the introduction of blockchain technology. Players can now use their rewards and items on various crypto gaming platforms.
Triple A reports that millennials are the most represented age group. Of all the millennials who own cryptocurrencies, 55% of them were already players on a gaming platform. The Asia-Pacific region in particular is a major player in this industry, with 22.6 million players, who all own cryptocurrencies. In Europe there are approximately 5.9 million players and 5.8 million in the Middle East and Africa. Surprisingly, North America had the fewest crypto gamers with just 3.3 million.
Best Crypto Gaming Tokens for 2022
As an investor, you can see a clear trend towards metaverse and crypto gambling for 2022. Thus, a large influx of gambling tokens is also noticeable. However, what are the best gambling chips for 2022? BeInCrypto takes a closer look at the top 5.
Enjin (ENJ)
The Enjin market allows the buying and selling of ERC-1155 assets. The Enjin Platform is a crypto service that allows game developers to issue fungible and non-fungible assets in the form of Ethereum tokens in-game. Enjin Coin (ENJ) is an Ethereum-based cryptocurrency that underpins tends the value of fungible and non-fungible tokens.
The Enjin Coin is an ERC-20 token on the Ethereum blockchain. All on-chain ENJ transactions are validated and secured by the Ethereum network using a proof-of-work consensus algorithm. Enjin Coin has a fixed maximum supply of one billion tokens. However, as the ecosystem grows and more and more ENJs are locked into digital in-game assets, the number of coins actually in circulation will continue to decline. According to co-founder Radomski, the Enjin coin is unique in that every token minted on the Enjin platform is directly backed by ENJ. This concept gives real liquidity to in-game items.
Enjin has raised a total of US$61.9 million through 4 rounds of funding. The most recent funding was raised on July 1, 2021 through an initial coin offering. Enjin is funded by 12 investors, Hashkey and Digital Finance Group are the latest investors.
Axie Infinity (AXS)
Axie Infinity is a “fighting game” where users compete with their axies (creatures or characters) in real time. Each Axie is a unique non-fungible ERC-721 token (NFT). Axie Infinity Shards (AXS) are ERC20 governance tokens in the Axie universe. AXS holders can claim rewards by staking tokens and participating in the game. Players can also earn AXS by creating content. There are also sweet love potions (SLP). These are ERC20 tokens that can be earned by playing and used to create new Axies.
Each axie, i.e. each character, has six body parts out of several hundred possible, each with its own ability. This creates an almost endless variety among the Axies. While most Axies have relatively low stats, those with the strongest body part combination have huge in-game stats. Unlike some other blockchain-based fighting and breeding games, each Axie can only be bred a total of 7 times. This was put in place to control the population of the Axies.
Axie Infinity Tokens (AXS) have a total supply of 270 million tokens. Of these, approximately 53.5 million tokens were in circulation as of mid-November 2020.
Axie Infinity has raised a total of $9 million in 4 rounds of funding. The most recent funding was raised in a Series A round on May 11, 2021. Axie Infinity is funded by 11 investors, 500 startups and private investors like Mark Cuban, Vietnam and Collaborative Fund are the recent investors.
Gala (GALA)
Gala is a gaming platform that is partially owned and operated by gamers. Players can earn GALA tokens by playing. GALA is a “non-refundable utility token” that can be used as a medium of exchange between participants in the Gala Games ecosystem. Users also use it to influence which games Gala should develop.
Gala Games is not a single game but offers a whole range of different blockchain games. All games are focused on fun and blockchain in the background. Town Star, the only currently playable game, is a city simulation played in the standard browser. Players manage a city similar to SimCity. However, in Town Star, players actually own the town. Gala’s current (as of Jan 13, 22) market capitalization is $2,530,692,482. There are 6,977,205,436 GALA coins in circulation. The maximum total supply will be 35 billion GALA coins.
Gala Games has raised a total of $100 million in a single venture capital fund, the Blockchain Gaming Fund. This fund was announced on December 13, 2021 and has raised a total of $100 million.
Decentralized Country (MANA)
Decentraland is an Ethereum-based “virtual reality platform” where you can buy, build, and monetize virtual properties. Decentraland uses MANA and LAND tokens. MANA is an ERC-20 token used to purchase non-fungible LAND ERC-721 tokens. MANA tokens can be used to pay for avatars, clothes, names, etc. on the Decentraland marketplace.
Decentraland is for users, businesses, and individuals looking for a new art medium, business opportunity, or entertainment resource. Overall, the Decentralandm game world is the Metaverse, divided into 90,601 individual LAND plots. Each non-fungible ERC-721 token represents a parcel of LAND. Each LAND measures exactly 16m x 16m (256 square meters) and can be found in the metaverse with specific coordinates. In January of last year, there were nearly 1.49 billion MANA tokens in circulation. This represents approximately 68% of the current total supply of 2.19 billion MANA.
Decentraland has raised a total of $25.5 million over 3 funding rounds. The most recent funding was raised on January 1, 2020 in a round of venture rounds. Digital Currency Group and Animoca Brands are the latest investors.
The sandbox (SAND)
The Sandbox is a blockchain-based metaverse with a play-to-earn model. The associated utility token is $SAND. The metaverse consists of parcels of digital real estate, called LAND. Players can create games, own and monetize things using non-fungible tokens (NFT) and $SAND. Player-created digital assets in the form of NFTs can be embedded into games using Sandbox Game Maker.
The Sandbox is a unique platform as it continues to bring blockchain technology to the gaming world. The Sandbox is revolutionizing the gaming market by creating the Metaverse where players can create and collect blockchain-based assets. There is a maximum supply of 3,000,000,000 SAND tokens. There are currently approximately 680,266,194 SAND tokens actively circulating, representing 23% of the total available supply as of March 2021. The Sandbox received its funding in 2 rounds. The last financing was raised on August 31, 2010 during a financing round.
The future outlook for the five crypto gambling tokens is initially promising due to the developments surrounding the metaverse. DeFi, NFT and Metaverse are the trends of the next few years and therefore the gaming sector will also grow. The user base in the gaming industry is growing rapidly and with it the interest in virtual games and decentralized assets. The Metaverse only adds more opportunities for players.
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